The advertising firm Far East DDB Plc has clinched a deal to buy the final 13.5% stake in Thai ad agency Fame Line to strengthen its business in the future.
Boonchai: Clients need total services
The company previously held 86.5% of Fame Line, and the acquisition makes Far East one of the top five advertising agencies in Thailand.
Boonchai Chokwatana, chairman and chief executive of Saha Pathanapibul Plc, said the complete stake of Fame Line has been transferred to Far East and it has changed its name to Far East Fame Line DDB Plc.
Mr Boonchai said the acquisition will pave the way for growing the advertising firm's business, operating under Saha Pathanapibul, to become a top five ad agency in the country.
He expects Far East Fame Line DDB to be a divergent advertising agency, ready to create outstanding ideas and innovation to tap the growing trends of varying businesses that require a lot of marketing tools.
Mr Boonchai said the experience and knowledge of the two companies will strengthen both, allowing them to keep up with the changing demands of consumers.
"Many clients need a media agency that can provide total services, from offline to online channels including creative and innovative tools," he said.
Strong media insight, big data and social media are three factors that should make the company successful after the deal, Mr Boonchai said.
